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Gas Prices Tumble 2.5-Cents in Austin

Average retail gasoline prices in Austin have fallen 2.5 cents per gallon in the past week, averaging $2.17/g yesterday, according to GasBuddy's daily survey of 830 gas outlets in Austin. This compares with the national average that has fallen 2.5 cents per gallon in the last week to $2.45/g, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Austin during the past week, prices yesterday were 19.3 cents per gallon higher than the same day one year ago and are 9.8 cents per gallon lower than a month ago. The national average has decreased 11.2 cents per gallon during the last month and stands 23.9 cents per gallon higher than this day one year ago.

According to GasBuddy historical data, gasoline prices on December 11 in Austin have ranged widely over the last five years:
$1.98/g in 2016, $1.81/g in 2015, $2.41/g in 2014, $3.10/g in 2013 and $3.11/g in 2012.

Areas near Austin and their current gas price climate:
San Antonio- $2.10/g, down 2.8 cents per gallon from last week's $2.13/g.
Waco- $2.15/g, down 2.6 cents per gallon from last week's $2.18/g.
College Station- $2.20/g, down 3.2 cents per gallon from last week's $2.23/g.

"With the exception of some Great Lakes states where prices tend to be volatile, average gas prices moved lower in nearly the entire country in the last week," said Patrick DeHaan, head of petroleum analysis for GasBuddy. "Thank a large build in gasoline inventories and gasoline demand numbers that have finally seen a reprieve from levels that were more consistent with summer months than autumn. With OPEC extending its oil production cuts, there is solid evidence that U.S. oil producers will fill in at least some of the void with rig counts remaining strong. As the focus continues to broaden beyond the rest of the year, motorists who found this year's gas prices high may want to begin setting aside some additional funds for next year as all signs continue to point to higher prices than this year."

For LIVE fuel price averages, visit http://FuelInsights.GasBuddy.com .

 

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